| Budgeted Sales Data: | ||||||||
| Particulars | January | February | March | April | ||||
| Estimated unit sales | 120000 | 100000 | 90000 | 125000 | ||||
| Estimated Selling Price per unit | $70.00 | $70.00 | $70.00 | $70.00 | ||||
| Inventory Details: | ||||||||
| Particulars | Closing Units | Per Unit Usage | Cost | % of Closing Inventory | ||||
| Finished Goods | 96000 | $38.50 | 80% | |||||
| Direct Material: | ||||||||
| Plastic (in kgs.) | 5 | $5.00 | 50% | |||||
| Wheels (in units) | 4 | $3.00 | 50% | |||||
| Direct Labour & Machine Hour Details: | ||||||||
| Particulars | Direct Labour | Machine | ||||||
| Consumption per unit (in minutes) | 15 | 15 | ||||||
| Average Cost per hour | $18.00 | $10.00 | ||||||
| Overhead & Other Costs Details: | ||||||||
| Particulars | Fixed Cost per month | Variable Cost per DLH | Annual Costs | |||||
| Supplies | $0.50 | |||||||
| Power | $1.00 | |||||||
| Maintenance | ######## | $0.80 | ||||||
| Supervision | ######## | |||||||
| Depreciation | ######## | |||||||
| Taxes | ######## | |||||||
| Other Overheads | ######## | $2.00 | ||||||
| Administration Cost | $48,00,000.00 | |||||||
| Selling & Distribution Cost | $24,00,000.00 | |||||||
| Sales Budget: | ||||||||
| Particulars | Reference Calculations | January | February | March | Q1 | Marks | ||
| Estimated unit sales | 0 | 0 | 0 | 0 | ||||
| Estimated Selling Price per unit | $0.00 | $0.00 | $0.00 | $0.00 | ||||
| BUDGETED SALES REVENUE | A | $0 | $0 | $0 | $0 | |||
| Reference to Calculations: | ||||||||
| A | 120000 x $70 | 100000 x $70 | 90000 x $70 | (120000+100000+90000) x $70 | ||||
| Production Budget: | ||||||||
| Particulars | Reference Calculations | January | February | March | Q1 | Marks | April | May |
| % of Closing Stock | 0% | 0% | 0% | 0% | 0% | |||
| Estimated unit sales | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Add: Closing Stock | A | 0 | 0 | 0 | 0 | 0 | ||
| Estimated Goods Available for Sales | B | 0 | 0 | 0 | 0 | 0 | ||
| Less: Opening Stock | 0 | 0 | 0 | 0 | 0 | |||
| BUDGETED PRODUCTION VOLUME | C | 0 | 0 | 0 | 0 | 0 | ||
| Reference to Calculations: | ||||||||
| A | 100000 x 80% | 90000 x 80% | 125000 x 80% | 130000 x 80% | ||||
| B | 120000 + 80000 | 100000 +72000 | 90000 + 100000 | (120000+100000+90000)+100000 | 125000+104000 | |||
| C | 200000-96000 | 172000-80000 | 190000-72000 | 410000-96000 | 229000-100000 | |||
| Direct Material Purchase Budget: | ||||||||
| Particulars | Reference Calculations | January | February | March | Q1 | Marks | April | |
| Budgeted Production Volume | 0 | 0 | 0 | 0 | 0 | |||
| % of Closing Stock | 0% | 0% | 0% | 0% | ||||
| Purchase of Plastic: | ||||||||
| Consumption per Unit (in kgs.) | 0 | 0 | 0 | 0 | 0 | |||
| Plastic Cost per kg. | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||
| Plastic Cost per Unit | A | $0 | $0 | $0 | $0 | $0 | ||
| Plastic required for Production | B | $0 | $0 | $0 | $0 | $0 | ||
| Add: Closing Stock | C | $0 | $0 | $0 | $0 | |||
| Total Plastic Required | D | $0 | $0 | $0 | $0 | |||
| Less: Opening Stock | E | $0 | $0 | $0 | $0 | 0 | ||
| Budgeted Plastic Purchase | F | $0 | $0 | $0 | $0 | 0 | ||
| Purchase of Wheels: | ||||||||
| Consumption per Unit (in unit) | 0 | 0 | 0 | 0 | 0 | |||
| Cost of Wheel | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||
| Wheel Cost per Unit | G | $0 | $0 | $0 | $0 | $0 | ||
| Wheels required for Production | H | $0 | $0 | $0 | $0 | $0 | ||
| Add: Closing Stock | I | $0 | $0 | $0 | $0 | |||
| Total Wheels Required | J | $0 | $0 | $0 | $0 | |||
| Less: Opening Stock | K | $0 | $0 | $0 | $0 | |||
| Budgeted Wheel Purchase | L | $0 | $0 | $0 | $0 | |||
| BUDGETED DIRECT MATERIAL PURCHASE | M | $0 | $0 | $0 | $0 | |||
| Reference to Calculations: | ||||||||
| A | 5 x $5 | 5 x $5 | 5 x $5 | 5 x $5 | 5 x $5 | |||
| B | 104000 x $25 | 92000 x $25 | 118000 x $25 | 314000 x $25 | 129000 x $25 | |||
| C | $2300000 x 50% | $2950000 x 50% | $3225000 x 50% | $3225000 x 50% | ||||
| D | $2600000+$1150000 | $2300000+$1475000 | $2950000+$1612500 | $7850000+$1612500 | ||||
| E | $2600000 x 50% | $2300000 x 50% | $2950000 x 50% | $2600000 x 50% | ||||
| F | $3750000 -$1300000 | $3775000 – $1150000 | $4562500 – $1475000 | $9462500 – $1300000 | ||||
| G | 4 x $3 | 4 x $3 | 4 x $3 | 4 x $3 | 4 x $3 | |||
| H | 104000 x $12 | 92000 x $12 | 118000 x $12 | 314000 x $12 | 129000 x $12 | |||
| I | $1104000 x 50% | $1416000 x 50% | $1548000 x 50% | $1548000 x 50% | ||||
| J | $1248000+$552000 | $1104000+$708000 | $1416000+$774000 | $3768000+$774000 | ||||
| K | $1248000 x 50% | $1104000 x 50% | $1416000 x 50% | $1248000 x 50% | ||||
| L | $1800000 -$624000 | $1812000 – $552000 | $2190000 – $708000 | $4542000 – $624000 | ||||
| M | $2450000+$3626000 | $2625000+$3885000 | $3087500+$4569500 | $8162500+$3918000 | ||||
| Direct Labour Hour & Cost Budget: | ||||||||
| Particulars | Reference Calculations | January | February | March | Q1 | Marks | ||
| Budgeted Production Volume | 0 | 0 | 0 | 0 | ||||
| Direct Labor Hours: | ||||||||
| Labour Hours required per unit | A | 0 | 0 | 0 | 0 | |||
| Labor Cost per Labour Hour | $0.00 | $0.00 | $0.00 | $0.00 | ||||
| Labor Cost per unit | B | $0.00 | $0.00 | $0.00 | $0.00 | |||
| Budgeted Direct Labour Hours | C | 0 | 0 | 0 | 0 | |||
| BUDGETED DIRECT LABOUR COST | D | $0 | $0 | $0 | $0 | |||
| Machine Hour & Cost Budget: | ||||||||
| Particulars | Reference Calculations | January | February | March | Q1 | Marks | ||
| Budgeted Production Volume | 0 | 0 | 0 | 0 | ||||
| Machine Hours: | ||||||||
| Machine Hours required per unit | E | 0 | 0 | 0 | 0 | |||
| Cost per Machine Hour | $0.00 | $0.00 | $0.00 | $0.00 | ||||
| Labor Cost per unit | F | $0.00 | $0.00 | $0.00 | $0.00 | |||
| Budgeted Machine Hours | G | 0 | 0 | 0 | 0 | |||
| BUDGETED MACHINE COST | H | $0 | $0 | $0 | $0 | |||
| Reference to Calculations: | ||||||||
| A | 15mnts/60 | 15mnts/60 | 15mnts/60 | 15mnts/60 | ||||
| B | 0.25 x $18 | 0.25 x $18 | 0.25 x $18 | 0.25 x $18 | ||||
| C | 104000 x 0.25 | 92000 x 0.25 | 118000 x 0.25 | 314000 x 0.25 | ||||
| D | 26000 x $18 | 23000 x $18 | 29500 x $18 | 78500 x $18 | ||||
| E | 15mnts/60 | 15mnts/60 | 15mnts/60 | 15mnts/60 | ||||
| F | 0.25 x $10 | 0.25 x $10 | 0.25 x $10 | 0.25 x $10 | ||||
| G | 104000 x 0.25 | 92000 x 0.25 | 118000 x 0.25 | 314000 x 0.25 | ||||
| H | 26000 x $10 | 23000 x $10 | 29500 x $10 | 78500 x $10 | ||||
| Overhead Budget: | ||||||||
| Particulars | Reference Calculations | January | February | March | Q1 | Marks | ||
| Budgeted Production Volume | 0 | 0 | 0 | 0 | ||||
| Budgeted Direct Labour Hours | 0 | 0 | 0 | 0 | ||||
| Variable Costs: | ||||||||
| Supplies | $0.00 | $0.00 | $0.00 | $0.00 | ||||
| Power | $0.00 | $0.00 | $0.00 | $0.00 | ||||
| Maintenance | $0.00 | $0.00 | $0.00 | $0.00 | ||||
| Other Overheads | $0.00 | $0.00 | $0.00 | $0.00 | ||||
| Total Variable Overhead per DLH | A | $0.00 | $0.00 | $0.00 | $0.00 | |||
| Total Variable Overhead | B | $0 | $0 | $0 | $0 | |||
| Fixed Maintenance Cost | $0 | $0 | $0 | $0 | ||||
| Supervision Cost | $0 | $0 | $0 | $0 | ||||
| Depreciation Cost | $0 | $0 | $0 | $0 | ||||
| Taxes | $0 | $0 | $0 | $0 | ||||
| Other Fixed Overheads | $0 | $0 | $0 | $0 | ||||
| TOTAL BUDGETED OVERHEAD | C | $0 | $0 | $0 | $0 | |||
| Budgeted Overhead per unit | D | #DIV/0! | #DIV/0! | #DIV/0! | ||||
| Reference to Calculations: | ||||||||
| A | $0.50+$1+$0.80+$2 | $0.50+$1+$0.80+$2 | $0.50+$1+$0.80+$2 | $0.50+$1+$0.80+$2 | ||||
| B | 26000 x $4.30 | 23000 x $4.30 | 29500 x $4.30 | 78500 x $4.30 | ||||
| C | $111800+$30000+$16000+$100000+$12000+$122000 | $98900+$30000+$16000+$100000+$12000+$122000 | $126850+$30000+$16000+$100000+$12000+$122000 | $337550+$30000+$16000+$100000+$12000+$122000 | ||||
| D | $391800/104000 | $378000/92000 | $406850/118000 | |||||
| Ending Finished Goods Inventory Budget: | ||||||||
| Particulars | Reference Calculations | Q1 | Marks | |||||
| Ending Finished Goods Inventory (in units) on 31 March,2018 | 0 | |||||||
| Production Cost: | ||||||||
| Plastic Cost per unit | $0.00 | |||||||
| Wheel Cost per unit | $0.00 | |||||||
| Direct Labor Cost per unit | $0.00 | |||||||
| Machine Cost per unit | $0.00 | |||||||
| Overhead Cost per unit | $0.00 | |||||||
| Total Production Cost per unit | A | $0.00 | ||||||
| Ending Finished Goods Inventory Budget | B | $0 | ||||||
| Reference to Calculations: | ||||||||
| A | $25+$12+$4.50+$2.50+$3.45 | |||||||
| B | 100000 x $47.45 | |||||||
| Budgeted Income Statement | ||||||||
| as on 31 March 2018 | ||||||||
| Particulars | Reference Calculations | Amount | Amount | Amount | Marks | |||
| Sales Revenue | $0 | |||||||
| Direct Material Purchased | $0 | |||||||
| Add: Opening Inventory of Plastic | $0 | |||||||
| Add: Opening Inventory of Wheels | $0 | |||||||
| Raw Material Available | A | $0 | ||||||
| Less: Closing Inventory of Plastic | $0 | |||||||
| Less: Closing Inventory of Wheels | $0 | |||||||
| Direct Material Consumed | B | $0 | ||||||
| Direct Labor Cost | $0 | |||||||
| Machine Cost | $0 | |||||||
| Overhead Cost | $0 | |||||||
| Cost of Goods Manufactured | C | $0 | ||||||
| Add: Opening Inventory of Finished Goods | D | $0 | ||||||
| Cost of Goods Available for Sales | E | $0 | ||||||
| Less: Ending Finished Goods Inventory | $0 | |||||||
| Cost of Goods Sold | F | $0 | ||||||
| GROSS PROFIT | G | $0 | ||||||
| Administration Cost | $0 | |||||||
| Selling & Distribution Cost | $0 | |||||||
| BUDGETED NET PROFIT for the period | H | $0 | ||||||
| Reference to Calculations: | ||||||||
| A | $12080500+$1300000+$624000 | |||||||
| B | $14004500-$1612500-$774000 | |||||||
| C | $11618000-$1413000-$785000-$1177550 | |||||||
| D | 96000 x $38.50 | |||||||
| E | $14993550+$3696000 | |||||||
| F | $18689550-$4744788 | |||||||
| G | $21700000-$13944762 | |||||||
| H | $7755238-$4800000-$2400000 |
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